05:55 AM EST, 12/03/2024 (MT Newswires) -- Asian stock markets rallied on Tuesday on overnight Wall Street cues and tech-sector gains, and as yields on mainland China sovereign bonds struck record lows.

Yields on 10-year China bonds fell under 2% for the first time in the postwar era, striking near 1.98%.

Hong Kong, Shanghai and Tokyo finished in the green, as did most other regional exchanges.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.91% after media reports that Japan would be excluded from certain export controls announced by Washington on Monday, aimed at restricting China's access to advanced technology, especially semiconductors.

The benchmark Nikkei 225 rose 735.84 to 39,248.86, as gaining issues outnumbered losers 197 to 25.

Leading the upside was Furukawa Electric, up 7%, while Kansei Electric Power declined 3.1%.

In Hong Kong, the Hang Seng Index opened evenly and rallied in the afternoon, finishing up 1% after China's central bank said it will pursue accommodative policies and boost countercyclical measures to support growth, in a statement posted online on Monday.

The broad gauge Hang Seng rose 196.03 to 19,746.32, as gaining issues outnumbered losers 66 to 15. The Hang Seng TECH Index gained 0.3% on the day, while the Mainland Properties Index rose 2.1%.

Leading the upside was Wuxi Biologics, gaining 7.9%, while Semiconductor Manufacturing International declined 1.5%.

On the mainland, the Shanghai Composite rose 0.4% to 3,378.81.

On the other regional exchanges, the S. Korean KOSPI rose 1.9%; the Taiwan TWSE inclined 1.3%; the Australian ASX 200 inclined 0.6%; the Singapore Straits Times Index rose 0.9%, and the Thai Set inclined 1.2%. In late trading in Mumbai, the Sensex was up 0.7%.

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